Quick answer: Self-managing saves the 10% fee but costs 10-20 hours/month and exposes you to legal and financial risk. A property manager costs money but typically pays for itself through faster leasing, better tenant screening, and lower maintenance costs.
How Do Self-Managing and Hiring a Property Manager Compare?
| Category | Self-Manage | Property Manager |
|---|---|---|
| Monthly cost | $0 | 10% of collected rent (or $299/mo flat) |
| Your time | 10-20 hrs/month | ~1 hr/month |
| Vacancy time | 30-60 days | 14-21 days |
| Tenant screening | Varies by your process | Standardized 5-step |
| Maintenance | Retail pricing, your coordination | Volume vendor rates, handled for you |
| Legal risk | High (Fair Housing, FL Statute 83) | Lower (PM handles compliance) |
| Emergency calls | You, 24/7 | PM handles it |
| Scalability | Each property adds hours | Minimal extra time per property |
Self-manage works if:
- ✓ You have one property and live nearby
- ✓ You have landlord experience
- ✓ Your time is flexible
- ✓ Cash flow is razor-thin
- ✓ You enjoy the hands-on work
Hire a PM if:
- ✓ You live out of the area or state
- ✓ You value your time over the fee
- ✓ You own (or plan to own) multiple properties
- ✓ You want consistent legal compliance
- ✓ You had a bad tenant experience
What Does the Dollar Math Look Like on a $2,200/mo Rental?
Annual PM fee (10%)$2,640
One extra month vacancy (DIY vs. PM)$2,200 lost
Underpriced by $100/mo x 12$1,200 lost
One eviction from weak screening$5,000+ lost
Any single mistake exceeds the annual fee
Want the Full Analysis?
This page is the quick comparison. For a detailed breakdown of time costs, financial modeling, legal risks, and real-world scenarios, read the full guide:
Read the full guide: Should I Hire a Property Manager or Self-Manage? →